Optical Lens Edger Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Optical Lens Edger market is projected to grow with a CAGR of nearly 5.6% over the forecast period. The major factor attributing to the growth of the market is the rising prevalence of vision impairment and the increasing geriatric population. Furthermore, the growing demand for optical edgers by Opthalmology and camera industries is another major factor for market growth. According to the World Health Organization, at least 2.2 billion people have a vision impairment or blindness globally, of whom at least 1 billion have a vision impairment that can be prevented. A rising patient pool increases the usage of lenses and thus boosting the market growth. However, the increasing use of contact lens and the declining research and development programs for product development are the major drawbacks for the market growth.

Key Market Trends

Automatic Optical Lens Edger segment to dominate the optical lens edger market globally

The design and construction of optical lens edging machines are pretty increasingly simplified, as greater efficiency is reached through automation in their operations. This permits less manual interference, making the edging process speedy. The machines include an incorporated 3-D drilling unit with the regulator by a 5-axis mechanism. This type of unit offers high-quality beveling and grooving performance to deliver a striking edge surface.

The major driving factors that boost the market growth of the segment are the increasing vision impairment patient pool and increasing demand of the edgers in photography and Opthalmology industries.

North America Dominates the Market and Expected to do Same in the Forecast Period

North America is expected to dominate the overall optical lens edger market, throughout the forecast period. The largest share is mainly due to the presence of a larger patient pool and increases in a geriatric population. Furthermore, well-established insurance policies and the availability of advanced healthcare infrastructure are few of the other factors boosting the market in this region. In the North America region, the United States holds the largest market share due to the factors such as the increasing number of geriatric populations, along with a growing number of patient pool in the country. According to the National Federation of the Blind, 7,675,600 people in the United States are vision impaired. According to the statistics, a large number of patients boost the market in this region.

Competitive Landscape

The Optical Lens Edger market is fragmented and consists of a large number of small scale players. However, the large layers of the industry are vertically integrated. Some of the companies which are currently dominating the market are Essilor International S.A., Topcon Corporation, NIDEK CO., LTD., Coburn Technologies Inc., Huvitz Corp., Mei Srl, Santinelli International, and Shanghai Supore Instruments Co. Ltd.

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